Corient Private Wealth LLC Reduces Holdings in The AES Co. (NYSE:AES)

Corient Private Wealth LLC reduced its holdings in shares of The AES Co. (NYSE:AES) by 25.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 125,046 shares of the utilities provider’s stock after selling 42,821 shares during the period. Corient Private Wealth LLC’s holdings in AES were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC raised its holdings in AES by 8.0% in the 3rd quarter. Empowered Funds LLC now owns 11,179 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 830 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of AES by 664.7% in the third quarter. Thrivent Financial for Lutherans now owns 219,270 shares of the utilities provider’s stock worth $4,398,000 after buying an additional 190,596 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of AES during the 3rd quarter valued at approximately $429,000. Charles Schwab Investment Management Inc. increased its holdings in AES by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock worth $134,286,000 after acquiring an additional 82,956 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in AES by 15.3% during the 3rd quarter. Cerity Partners LLC now owns 167,223 shares of the utilities provider’s stock worth $3,354,000 after acquiring an additional 22,187 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Down 1.3 %

Shares of NYSE:AES opened at $12.88 on Tuesday. The company has a 50-day moving average price of $11.30 and a 200 day moving average price of $13.92. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The AES Co. has a 12 month low of $9.88 and a 12 month high of $22.21. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 0.82 and a beta of 0.94.

AES (NYSE:AES) last announced its earnings results on Friday, February 28th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.20. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the previous year, the business earned $0.73 EPS. As a group, equities research analysts predict that The AES Co. will post 1.93 earnings per share for the current year.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.176 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.47%. AES’s dividend payout ratio is presently 29.54%.

Analysts Set New Price Targets

AES has been the topic of several recent analyst reports. Hsbc Global Res upgraded shares of AES to a “strong-buy” rating in a research report on Friday, December 13th. Mizuho lowered their price objective on AES from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Seaport Res Ptn downgraded AES from a “hold” rating to a “strong sell” rating in a research note on Monday, March 3rd. HSBC began coverage on AES in a research note on Friday, December 13th. They issued a “buy” rating and a $17.00 price target for the company. Finally, Susquehanna reduced their price objective on shares of AES from $16.00 to $15.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, AES has an average rating of “Moderate Buy” and an average price target of $18.30.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.